Damco noted seafreight setback but improved profits

The Maersk Group's logistics unit Damco, which has been struggling in recent years, made USD 20 million in the third quarter, though the deselection of non-profitable business in seafreight produced a 10 percent decline in volumes.

BY OLE ANDERSEN

Logistics company Damco delivered a USD 20 million net profit in the third quarter 2015, up from a deficit of USD 68 million in the same period last year. As such, the efforts to turn the severely negative developments at the company around seem to finally bear fruit after Maersk last year injected massive sums in Damco following large impairments on previous investments.

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Damco noted seafreight setback but improved profits

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Damco CEO: The corporate overhaul was painful at times

Here is an overview of Maersk Group's Q3 performance

CEO: Damco back in black next year

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Front page now

Wärtsilä to introduce ammonia engine: "We are definitely not a bottleneck"

Will the world come to need 12 million barrels of oil a day?

Poseidon Principles align with IMO climate targets

Royal Arctic Line's chief executive steps down

Broker sees benefits in Fredriksen's possible purchase of rival's tankers

Carriers go their separate ways on climate quotas

Russia takes more risks by increasing shipping on Arctic route

Everfuel and French fund to invest EUR 200m in hydrogen through joint venture

Gram Car Carriers lands multi-year contract worth USD 114m

Mississippi River waters dip toward record low in threat to US crop exports

Seven Seas: Customers' green ambitions and actions don't align

Venture fund in Singapore wants increased business focus from start-ups

Further reading

Carriers go their separate ways on climate quotas

Wärtsilä to introduce ammonia engine: "We are definitely not a bottleneck"

Media: Sale of DB Schenker enters next phase

It's time for DHL's new global head of ocean freight to prove he can be number one

Will the world come to need 12 million barrels of oil a day?

Russia takes more risks by increasing shipping on Arctic route

Jobs